BLACKROCK NEW YORK MUNICIPAL BOND TRUST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21037

Name of Fund: BlackRock New York Municipal Bond Trust (BQH)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New York

            Municipal Bond Trust, 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2015

Date of reporting period: 11/30/2014

Item 1 – Schedule of Investments

Schedule of Investments November 30, 2014 (Unaudited)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

Municipal Bonds   

Par  

(000)

     Value  

New York — 138.4%

                 

Corporate — 11.9%

  

  

City of New York New York Industrial Development Agency, ARB, American Airlines, Inc., JFK International Airport, AMT (a):

     

7.63%, 8/01/25

    $ 750      $ 815,580   

7.75%, 8/01/31

      1,000        1,093,870   

City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/28

      690        754,370   

County of Chautauqua New York Industrial Development Agency, RB, NRG Dunkirk Power Project, 5.88%, 4/01/42

      750        832,027   

County of Essex New York Industrial Development Agency, RB, International Paper Co. Project, Series A, AMT, 6.63%, 9/01/32

      100        112,863   

County of Suffolk New York Industrial Development Agency, RB, KeySpan Generation LLC, Port Jefferson, AMT, 5.25%, 6/01/27

      500        502,400   

New York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35

      250        298,633   

Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A,
AMT, 5.25%, 11/01/42 (b)

      375        385,905   

Port Authority of New York & New Jersey, ARB, Continental Airlines, Inc. & Eastern Air Lines, Inc. Project, LaGuardia, AMT, 9.13%, 12/01/15

      480        487,699   
    

 

 

  
               5,283,347   

County/City/Special District/School District — 39.2%

     

City of New York New York, GO:

     

Series A-1, Fiscal 2009, 4.75%, 8/15/25

      500        557,620   

Series D, 5.38%, 6/01/32

      15        15,059   

Sub-Series D-1, 5.00%, Fiscal 2014, 8/01/31

      245        282,982   

Sub-Series G-1, 5.00%, 4/01/29

      250        287,155   

Sub-Series G-1, 6.25%, 12/15/31

      250        297,820   
Municipal Bonds    Par  
(000)		     Value  

New York (continued)

                 

County/City/Special District/School District (continued)

  

City of New York New York, GO (concluded):

     

Sub-Series I-1, 5.38%, 4/01/36

    $ 450      $ 515,475   

City of New York New York, GO, Refunding:

     

Series E, 5.50%, 8/01/25

      455        563,681   

Series J, 5.00%, 8/01/32

      1,620        1,888,790   

City of New York New York Convention Center Development Corp., RB, Hotel Unit Fee Secured, (AMBAC):

     

5.00%, 11/15/44

      250        258,780   

4.75%, 11/15/45

      500        504,730   

City of New York New York Housing Development Corp., RB, Fund Grant Program, New York City Housing Authority Program, Series B1:

     

5.25%, 7/01/32

      735        849,770   

5.00%, 7/01/33

      250        281,165   

City of New York New York Industrial Development Agency, RB, PILOT:

     

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/41 (c)

      5,155        1,572,481   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/42 (c)

      500        145,395   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/43 (c)

      2,000        554,320   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/45 (c)

      950        238,346   

Queens Baseball Stadium (AGC), 6.38%, 1/01/39

      100        116,078   

Queens Baseball Stadium (AMBAC), 5.00%, 1/01/39

      500        516,210   

Yankee Stadium Project (NPFGC), 5.00%, 3/01/46

      175        180,063   

City of New York New York Transitional Finance Authority Future Tax Secured, RB, Sub-Series B-1, 5.00%, 11/01/35

      200        230,494   

Hudson Yards Infrastructure Corp., RB, Series A:

     

5.00%, 2/15/47

      650        692,647   

(AGM), 5.00%, 2/15/47

      750        800,557   

(NPFGC), 4.50%, 2/15/47

      790        823,235   

 

 

                
   BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014    1

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

Municipal Bonds    Par  
(000)		     Value  

New York (continued)

                 

County/City/Special District/School District (concluded)

  

Hudson Yards Infrastructure Corp., RB, Series A (concluded):

     

(NPFGC), 5.00%, 2/15/47

    $ 465      $ 495,509   

New York Liberty Development Corp., Refunding RB:

     

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 2, 5.63%, 7/15/47

      1,350        1,534,491   

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49

      285        322,161   

3 World Trade Center Project, Class 2, 5.38%, 11/15/40 (b)

      120        125,412   

4 World Trade Center Project, 5.00%, 11/15/31

      750        841,125   

4 World Trade Center Project, 5.75%, 11/15/51

      340        398,504   

7 World Trade Center Project, Class 1, 4.00%, 9/15/35

      320        346,714   

7 World Trade Center Project, Class 2, 5.00%, 9/15/43

      550        610,924   

7 World Trade Center Project, Class 3, 5.00%, 3/15/44

      520        561,475   
    

 

 

  
               17,409,168   

Education — 34.6%

     

Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A (d)(e):

     

7.00%, 5/01/25

      200        2,496   

7.00%, 5/01/35

      130        1,622   

Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A, (AGM):

     

4.38%, 10/01/30

      250        264,435   

4.63%, 10/01/40

      140        148,707   

Build NYC Resource Corp., RB, Series A:

     

Bronx Charter School for Excellence Project, 5.50%, 4/01/43

      270        290,339   

Bronx Charter School for International Cultures & The Arts Project, 5.00%, 4/15/33

      200        202,722   
Municipal Bonds    Par  
(000)		     Value  

New York (continued)

                 

Education (continued)

     

Build NYC Resource Corp., Refunding RB, City University New York Queens, Series A, 5.00%, 6/01/38

    $ 250      $ 284,225   

City of New York New York Trust for Cultural Resources, RB, Juilliard School, Series A, 5.00%, 1/01/39

      250        279,425   

City of New York New York Trust for Cultural Resources, Refunding RB, Series A:

     

American Museum of National History, 5.00%, 7/01/37

      110        127,224   

Carnegie Hall, 4.75%, 12/01/39

      400        422,788   

City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project, Series A, 5.13%, 9/01/40

      610        664,247   

City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/41

      250        275,857   

County of Cattaraugus New York, St. Bonaventure University Project, 5.00%, 5/01/39

      60        63,895   

County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A:

     

5.00%, 7/01/31

      500        564,175   

5.00%, 7/01/41

      500        551,215   

County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester Project,
Series A, 5.00%, 7/01/38

      120        135,437   

County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project,
Series A, 4.75%, 3/01/26

      200        210,906   

County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33

      100        112,400   

 

 

                
2    BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014   

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (continued)

     

Geneva Development Corp., Refunding RB, Hobart and William Smith Colleges, 5.25%, 9/01/44

    $ 160      $ 182,250   

Hempstead Town Local Development Corp., Refunding RB, Adelphini University Project, 5.00%, 10/01/34

      105        119,419   

State of New York Dormitory Authority, ERB, Series B, 5.75%, 3/15/36

      300        348,324   

State of New York Dormitory Authority, RB:

     

Convent of the Sacred Heart (AGM), 5.75%, 11/01/40

      300        346,416   

New York University, Series 1 (AMBAC, BHAC), 5.50%, 7/01/31

      245        315,244   

New York University, Series B, 5.00%, 7/01/42

      1,250        1,390,750   

State University Dormitory Facilities, Series A, 5.00%, 7/01/39

      150        165,593   

Teachers College, Series B, 5.00%, 7/01/42

      1,800        1,974,816   

Touro College & University System, Series A, 5.25%, 1/01/34

      250        278,690   

Touro College & University System, Series A, 5.50%, 1/01/39

      500        560,935   

University of Rochester, Series A, 5.13%, 7/01/39

      215        242,322   

University of Rochester, Series A, 5.75%, 7/01/39

      175        201,742   

State of New York Dormitory Authority, Refunding RB:

     

Brooklyn Law School, 5.75%, 7/01/33

      125        140,841   

Cornell University, Series A, 5.00%, 7/01/40

      150        170,672   

Fordham University, 5.00%, 7/01/44

      340        381,534   

New York University, Series A, 5.00%, 7/01/37

      445        503,722   

New York University, Series A, 5.00%, 7/01/42

      1,750        1,947,050   

Skidmore College, Series A, 5.00%, 7/01/28

      250        288,225   

State University Dormitory Facilities, Series A, 5.25%, 7/01/30

      350        416,542   
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (concluded)

     

State of New York Dormitory Authority, Refunding RB (concluded):

     

State University Dormitory Facilities, Series A, 5.25%, 7/01/32

    $ 350      $ 414,484   

Teachers College, 5.50%, 3/01/39

      350        390,358   
    

 

 

  
               15,382,044   

Health — 20.7%

     

County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A (AGM), 5.75%, 7/01/30

      350        397,079   

County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27

      150        150,113   

County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/37

      370        402,005   

County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40

      275        323,166   

County of Saratoga New York Industrial Development Agency, RB, Saratoga Hospital Project, Series B, 5.25%, 12/01/32

      200        210,028   

County of Suffolk New York Economic Development Corp., RB, Catholic Health Services, Series C, 5.00%, 7/01/32

      80        89,911   

County of Suffolk New York Industrial Development Agency, Refunding RB, Jefferson’s Ferry Project, 5.00%, 11/01/28

      260        268,861   

County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:

     

Remarketing, Series A, 5.00%, 11/01/30

      1,150        1,264,137   

Series B, 6.00%, 11/01/30

      200        232,226   

 

                
   BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014    3

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Health (concluded)

     

County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:

     

4.00%, 1/01/23

    $ 550      $ 579,816   

5.00%, 1/01/34

      500        537,835   

State of New York Dormitory Authority, RB:

     

Mental Health Services (AGM), 5.00%, 8/15/18 (f)

      5        5,752   

Mental Health Services (AGM), 5.00%, 2/15/22

      330        374,062   

New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32

      185        212,744   

New York University Hospitals Center, Series A, 5.75%, 7/01/31

      220        252,694   

New York University Hospitals Center, Series B, 5.63%, 7/01/17 (f)

      260        283,340   

North Shore-Long Island Jewish Obligated Group, Series A, 5.50%, 5/01/37

      450        498,843   

North Shore-Long Island Jewish Obligated Group, Series A, 5.75%, 5/01/37

      500        560,310   

State of New York Dormitory Authority, Refunding RB:

     

Miriam Osborn Memorial Home Association, 5.00%, 7/01/29

      290        311,222   

Mount Sinai Hospital, Series A, 5.00%, 7/01/26

      315        359,024   

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32

      1,000        1,106,820   

North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 5/01/33

      250        278,895   

St. Luke’s Roosevelt Hospital (FHA), 4.90%, 8/15/15 (f)

      500        515,400   
    

 

 

  
               9,214,283   

Housing — 3.1%

     

City of New York New York Housing Development Corp., RB, M/F Housing, Class F, 4.50%, 11/15/24 (b)

      500        509,925   
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Housing (concluded)

     

State of New York HFA, RB, M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39

    $ 500      $ 508,340   

State of New York Mortgage Agency, Refunding RB, 48th Series, 3.70%, 10/01/38

      360        364,640   
    

 

 

  
               1,382,905   

State — 6.2%

     

State of New York, GO, Series A, 5.00%, 2/15/39

      250        281,183   

State of New York Dormitory Authority, RB:

     

General Purpose, Series C, 5.00%, 3/15/41

      500        550,940   

Series A, 5.00%, 3/15/44

      90        103,795   

Series C, 5.00%, 12/15/31

      250        270,998   

State of New York Thruway Authority, RB, Transportation, Series A, 5.00%, 3/15/32

      80        92,243   

State of New York Thruway Authority, Refunding RB, 2nd General Highway & Bridge Trust, Series A, 5.00%, 4/01/32

      1,000        1,137,220   

State of New York Urban Development Corp., RB, State Personal Income Tax, Series C, 5.00%, 3/15/30

      250        292,072   
    

 

 

  
               2,728,451   

Tobacco — 0.6%

     

Chautauqua Tobacco Asset Securitization Corp., Refunding RB, 4.75%, 6/01/39

      75        73,050   

Niagara Tobacco Asset Securitization Corp., Refunding RB, 5.25%, 5/15/40

      170        190,155   
    

 

 

  
               263,205   

Transportation — 15.5%

     

Metropolitan Transportation Authority, RB:

     

Dedicated Tax Fund, Series A, 5.63%, 11/15/39

      250        284,320   

Series C, 6.50%, 11/15/28

      700        844,179   

Series D, 5.25%, 11/15/41

      1,000        1,130,380   

Metropolitan Transportation Authority, Refunding RB:

     

Series D, 5.25%, 11/15/30

      250        292,422   

Series D, 5.25%, 11/15/31

      250        291,145   

 

                
4    BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014   

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Transportation (concluded)

     

Metropolitan Transportation Authority, Refunding RB (concluded):

     

Series D, 5.25%, 11/15/32

    $ 170      $ 197,258   

Series F, 5.00%, 11/15/30

      500        575,720   

Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC Project, Series 8, 6.00%, 12/01/42

      500        578,635   

Port Authority of New York & New Jersey, Refunding ARB:

     

179th Series, 5.00%, 12/01/38

      150        171,113   

Consolidated, 146th Series, AMT (AGM), 4.50%, 12/01/34

      500        510,100   

Consolidated, 147th Series, AMT, 4.75%, 4/15/37

      150        154,103   

Port Authority of New York & New Jersey, Refunding RB, 178th Series, AMT, 5.00%, 12/01/32

      270        305,292   

State of New York Thruway Authority, Refunding RB, General, Series I:

     

5.00%, 1/01/37

      1,000        1,113,370   

5.00%, 1/01/42

      140        154,470   

Triborough Bridge & Tunnel Authority, Refunding RB, CAB (c):

     

General, Series B, 0.00%, 11/15/32

      400        212,508   

Sub-Series A, 0.00%, 11/15/32

      170        87,038   
    

 

 

  
               6,902,053   

Utilities — 6.6%

     

Long Island Power Authority, RB, General, Electric Systems:

     

Series A (AGM), 5.00%, 5/01/36

      225        248,760   

Series C (CIFG), 5.25%, 9/01/29

      500        611,845   

Long Island Power Authority, Refunding RB, Electric System, Series A, 5.50%, 4/01/24

      100        112,824   

State of New York Power Authority, Refunding RB, Series A, 5.00%, 11/15/38

      600        681,768   
Municipal Bonds   

Par  

(000)

     Value  

New York (concluded)

                 

Utilities (concluded)

     

Utility Debt Securitization Authority, Refunding RB, Restructuring, Series E, 5.00%, 12/15/41

    $ 1,115      $ 1,285,751   
    

 

 

  
               2,940,948   
Total Municipal Bonds — 138.4%              61,506,404   
    
                  
Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (g)		             

New York — 19.7%

                 

County/City/Special District/School District — 7.2%

     

City of New York New York, GO, Sub-Series I-1, 5.00%, 3/01/36

      250        285,800   

City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D-1, 5.00%, 11/01/38

      825        930,765   

Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (h)

      700        804,760   

New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40

      1,050        1,191,078   
    

 

 

  
               3,212,403   

State — 2.0%

     

City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 1/15/39

      500        560,722   

Sales Tax Asset Receivable Corp., Fiscal 2015, Series A, 5.00%, 10/15/31

      255        306,538   
    

 

 

  
               867,260   

Transportation — 3.2%

     

New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43

      630        721,583   

 

                
   BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014    5

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to

Tender Option Bond (TOB) Trusts (g)

    Par  
(000)		     Value  

New York (concluded)

                 

Transportation (concluded)

     

State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 3/15/31

    $ 600      $ 696,396   
    

 

 

  
               1,417,979   

Utilities — 7.3%

     

City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A, 5.75%, 6/15/40

      405        464,223   

City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution:

     

Fiscal 2011, Series HH, 5.00%, 6/15/32

      990        1,131,511   

Fiscal 2012, Series BB, 5.00%, 6/15/44

      1,500        1,662,655   
    

 

 

  
               3,258,389   

Total Municipal Bonds Transferred to

Tender Option Bond (TOB) Trusts — 19.7%

              8,756,031   

Total Long-Term Investments

(Cost — $64,319,639) — 158.1%

              70,262,435   
Short-Term Securities    Shares     Value  

BIF New York Municipal Money Fund, 0.00% (i)(j)

      1,834,682      $ 1,834,682   

Total Short-Term Securities

(Cost — $1,834,682) — 4.2%

              1,834,682   

Total Investments

(Cost — $66,154,321*) — 162.3%

  

  

     72,097,117   
Liabilities in Excess of Other Assets — (1.2)%        (493,163 ) 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable — (11.4%)

        (5,071,487 ) 
VRDP Shares, at Liquidation Value — (49.7%)        (22,100,000 ) 
    

 

 

  
Net Assets Applicable to Common Shares — 100.0%      $ 44,432,467   
    

 

 

  

 

*   As of November 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $ 61,063,278   
 

 

 

  

Gross unrealized appreciation

   $ 6,224,010   

Gross unrealized depreciation

     (260,386 ) 
 

 

 

  

Net unrealized appreciation

   $ 5,963,624   
 

 

 

  

 

Notes to Schedule of Investments

 

(a)   Variable rate security. Rate shown is as of report date.

 

(b)   Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

(c)   Zero-coupon bond.

 

(d)   Non-income producing security.

 

(e)   Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.

 

(f)   U.S. government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

(g)   Represent bonds transferred to a TOB. In exchange for which the Trust received cash and residual interest certificates. These bonds serve as collateral in a financing transaction.

 

(h)   All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreement, which expires on February 15, 2019 is $370,682.

 

(i)   Represents the current yield as of report date.

 

 

                
6    BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014   

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(j)   Investments in issuers considered to be an affiliate of the Trust during the period ended November 30, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate      Shares Held
at August 31,
2014		        Net
Activity		        Shares Held
at November 30,
2014		        Income

BIF New York Municipal Money Fund

        426,743           1,407,939           1,834,682         —

 

Portfolio Abbreviations

 

AGC    Assured Guarantee Corp.      BHAC    Berkshire Hathaway Assurance Corp.    HFA    Housing Finance Agency
AGM    Assured Guaranty Municipal Corp.      CAB    Capital Appreciation Bonds    M/F    Multi-Family
AMBAC    American Municipal Bond Assurance Corp.      CIFG    CDC IXIS Financial Guaranty    NPFGC    National Public Finance Guarantee Corp.
AMT    Alternative Minimum Tax (subject to)      ERB    Education Revenue Bonds    PILOT    Payment in Lieu of Taxes
ARB    Airport Revenue Bonds      FHA    Federal Housing Administration    RB    Revenue Bonds
BARB    Building Aid Revenue Bonds      GO    General Obligation Bonds    SONYMA    State of New York Mortgage Agency

 

Ÿ  

Financial futures contracts outstanding as of November 30, 2014 were as follows:

 

Contracts Sold     Issue   Exchange   Expiration   Notional Value     Unrealized
Depreciation		  
  (52 )    10-Year U.S. Treasury Note   Chicago Board of Trade   March 2015   $ 6,606,438      $ (19,858 ) 

For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

                
   BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014    7

Schedule of Investments (concluded)

   

BlackRock New York Municipal Bond Trust (BQH)

 

Ÿ  

Fair Value Measurements — Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial statement purposes. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. The three levels of the fair value hierarchy are as follows:

 

  Ÿ  

Level 1 — unadjusted quoted prices in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

  Ÿ  

Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

  Ÿ  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, please refer to the Trust’s most recent financial statements as contained in its annual report.

 

     Level 1        Level 2        Level 3      Total  

Assets:

                 
Investments:                 

Long-Term Investments1

     —         $ 70,262,435         —      $ 70,262,435   

Short-Term Securities

   $ 1,834,682           —         —        1,834,682   
 

 

 

  

Total

   $ 1,834,682         $ 70,262,435         —      $ 72,097,117   
 

 

 

  

1   See above Schedule of Investments for values in each sector.

      

     Level 1        Level 2        Level 3      Total  
Derivative Financial Instruments 2                 

Liabilities:

                 

Interest rate contracts

   $ (19,858 )         —         —      $ (19,858 ) 

2   Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

      

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of November 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1        Level 2        Level 3      Total  

Assets:

                 

Cash pledged for financial futures contracts

   $ 85,000           —         —      $ 85,000   

Liabilities:

                 

TOB trust certificates

     —         $ (5,070,215 )       —        (5,070,215 ) 

VRDP Shares

     —           (22,100,000 )       —        (22,100,000 ) 
 

 

 

  

Total

   $ 85,000         $ (27,170,215 )       —      $ (27,085,215 ) 
 

 

 

  

There were no transfers between levels during the period ended November 30, 2014.

 

                
8    BLACKROCK NEW YORK MUNICIPAL BOND TRUST    NOVEMBER 30, 2014   

Item 2 – Controls and Procedures

 

2(a) –

    The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) –

    There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

      Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BlackRock New York Municipal Bond Trust

By:    

   /s/ John M. Perlowski                    
  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock New York Municipal Bond Trust

Date: January 22, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:       /s/ John M. Perlowski                    
  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock New York Municipal Bond Trust
Date: January 22, 2015
By:   /s/ Neal J. Andrews                        
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock New York Municipal Bond Trust
Date: January 22, 2015